Geosynthetics are used as materials for creating supportive infrastructure for roads, bridges, and other structures. The durability of the material as well as its preference in lieu of the crunch of raw materials required for cement and others can lead to a spike in its consumption. The global Geosynthetics Market report by Market Research Future (MRFR) contains drivers, challenges, opportunities, and trends for the period of 2021 to 2028 (forecast period). The fear of the COVID-19 pandemic has caused disruptions across the supply chain and its impact has been included in the report.
Market Scope
The Geosynthetics Market is projected to be worth USD 23.92 billion by 2028, registering a CAGR of 6.75% during the forecast period (2021 – 2028), The market was valued at USD 13.7 billion in 2020. It is primarily driven by rapid developmental projects undertaken globally for the beautification of roads and upgradation of infrastructure. Rapid urbanization, migration of people to urban areas, and the vast populace are major drivers of the market. Geosynthetics are used in stabilizing the terrain and enhance the safety of buildings.
The development of roadways and highways are vital to the expansion of the global geosynthetics market. Investments in expansion of roadways and repair of highways are likely to bode well for the market. Investments in railway lines in South Africa, China, India, and parts of Western Europe and supportive policies allowing the use of eco-friendly materials is akin to create opportunities for the market. Mandatory use in landfills, waste management, and groundwater extraction can reduce soil erosion.
However, fluctuating raw material prices may act as deterrent against market growth.
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Segmentation
The global geosynthetics market has been segmented by type, material, and application.
By type, the global market has been segmented into geogrids, geomembranes, geotextiles, geonets, and others. Geotextiles accounted for the largest market share owing to its mechanical and hydraulic properties. Their use in separation and filtration equipment across industries can be used in sieving the discharge from the required substance.
By material, it is segmented into polyester, polypropylene, polyvinyl chloride, polyethylene, polystyrene, and others. The polyethylene segment is predicted to exhibit a robust growth rate during the forecast period owing to being used in the manufacture of geosynthetics. Durability, high tensile strength, and chemical resistance of the compound can drive its growth in the global geosynthetics industry.
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By application, the global geosynthetics market is segmented into filtration, separation, reinforcement, barrier, and drainage. The separation segment is estimated to lead during the forecast period owing to the ability of geosynthetics for separating dissimilar materials. Construction of new roads and filling of potholes are likely to facilitate segment growth. On the other hand, the filtration segment can grow at a steady pace owing to being able to ensure the flow of liquid through the geomaterial while retaining filtered particles.
Competition Outlook
- Thrace Group,
- Low & Bonar PLC,
- NAUE GmbH & Co. KG,
- Tensar Geosynthetics Ltd,
- Maccaferri S.p.A.,
- Texel Technical Materials, Inc.,
- Gorantla Geosynthetics Pvt Ltd.,
- Geotrst Environmental Science Technology,
- SKAPS Industries, ABG Ltd, and Polymer Group Inc.
are key players of the global geosynthetics market.
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Regional Analysis
The global geosynthetics market, based on region, is divided into the Latin America, Europe, Asia Pacific (APAC), North America, and the Middle East and Africa (MEA).
The APAC region accounted for 38% market share owing to investments in infrastructural projects and road repairs. Construction of parking lots, forest pathways, and access roads can fuel the regional market growth. Massive demand for soil enforcement which forms the plinth of residential buildings in China and India will bode well for the geosynthetics market.
North America is the second-largest region and will be lucrative for the global market owing to investments in infrastructure development.
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